Data scientist to hedge fund quant researchers

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Aug 4 12 Comments

Is it possible to transfer from data scientist / ML engineer from tech companies (e.g. Google, FB) to quant researcher at top hedge funds (e.g. Citadel, Two Sigma)? I think they do a somilar job, analyzing data to extract key insights, and developing algorithms to power strategic decisions. Are there any barriers for the transition?

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TOP 12 Comments
  • Goldman Sachs fake engineer
    Barrier is the industry is slowly shrinking, many places want people with experience in the particular role instead of general data/programming skills.
    Aug 5 6
    • Goldman Sachs fake engineer
      It's consolidating because the tech is now quite sophisticated creating high barriers to entry. Market making has been consolidating for years as it gets more efficient. Active management has been very unattractive in the last decade since large caps have done unusually well.

      I think quant funds will do better in coming years again, but it takes a while for investors to notice the returns improving and switch over.
      Aug 6
    • Google montasoul
      So sounds like we’d better stay in tech as SDE/ds/MLE rather than switch to financial world?
      Aug 7
    • Goldman Sachs fake engineer
      Not exactly, I think finance is still a great place to work if you like math and in some cases you can make much more money. Especially data scientists, in tech they don't get paid crap from my experience, while in finance that knowledge is valued more.

      It's just not a growth industry.
      Aug 7
    • Google montasoul
      Hi fake engineer, see lots of your post, quite helpful! So you’ve been data scientist at tech then switch to Goldman Sachs? Indeed in tech like google data scientist is not paid equally well as software engineer; but in finance I guess it’s opposite because finance is math-focusing place?
      Aug 7
    • Goldman Sachs fake engineer
      I think it used to be the opposite, but now there's too many data scientists and failed PhDs coming into finance and the software engineers are more in demand.
      Aug 7
  • Oracle pskdhxn
    It’ll be hard.

    Citadel for example will ask a lot of theoretical statistics stuffs. You better have a PhD otherwise don’t bother.

    Quant dev would be easier but again your profile really needs to be impressive. Expect LC hard and super deep dive into C++ and system, compiler, etc.

    First thing to do is try get contacted by headhunters and pass resume screening.
    Aug 4 3
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      OP
      But quant dev is not better than ds and mle at tech in terms of wage and wlb?
      Aug 4
    • New x6krq
      Citadel won't hire you unless you've got a fancy private school degree. It happened to me. Straight from their HR to my recruiter "it will be almost impossible no matter how much we like him or how good he is".
      Aug 7
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      OP
      which are big name schools they hire from then?
      Aug 8
  • Quora iSjP52
    Yes
    Aug 4 0